Update 5/1/26: They are saying that any referral code that’s been publicly posted is invalid
Update 4/28/26: Bonus has been increased to $200 + $100 if you refer somebody. Please do not share your referrals in the comments. They can be shared in this linked post.
Offer at a glance
- Maximum bonus amount: $100
- Availability: Our totally free checking and high-yield savings accounts are available to doctors, healthcare workers, doctors-in-training, and their families! Doctorate not in the medical profession worked.
- Direct deposit required: Yes, $200+
- Additional requirements:
- Hard/soft pull: Soft pull
- ChexSystems: Unknown
- Credit card funding: None
- Monthly fees: None
- Early account termination fee: $25, 90 days
- Household limit:
- Expiration date: March 1, 2027, at 11:59 PM ET
Contents
The Offer
- Panacea Financial Credit Union is offering a $300 checking bonus when you complete the following requirements:
- Earn $100 when you open a checking account and fund an account with at least $25.
– Earn $100 when you refer a fellow student or colleague who opens and funds a checking account within 60 days of referrer’s account opening.
– Earn $100 when you complete 15 qualifying transactions of $10 or more within 60 days of account opening.
- Earn $100 when you open a checking account and fund an account with at least $25.
The Fine Print
- Eligibility and Offer: New Panacea Financial personal checking account customers who use code BONUS100 when opening an account can earn $100 cash back by receiving a qualifying direct deposit of $200 or more within 45 days of account opening.
- Qualifying Direct Deposits: Qualifying direct deposits include any ACH deposit from an employer, payroll provider, or government agency–like a paycheck, Social Security benefit, or pension. Transfers from Zelle, Venmo, PayPal, or other internal transfers do not apply.
- Bonus Payment: Bonus will be paid at the next statement cycle after the qualifying direct deposit is received. Account must be open and in good standing at the time of the bonus payment. For purposes of this promotion, an account is considered “in good standing” if it is open, not restricted or frozen, not overdrawn or charged off, and not subject to any legal or fraud-related hold at the time the promotional bonus is paid. Accounts that are closed, restricted, or otherwise not in good standing at the time of bonus payment are not eligible to receive the promotional bonus. Panacea may revoke or recover the bonus if the qualifying deposit is reversed, returned, or determined not to be legitimate.
- Promotion Period: The Panacea Checking Direct Deposit Promotion will begin on March 1, 2026, at 12:01 AM ET and end on March 1, 2027, at 11:59 PM ET.
- Terms and Conditions: Promotional credit may be reported as interest on a 1099-INT if over $10. Limit one bonus per customer. Offer available to new customers only; existing Panacea Financial deposit
- All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
This account has no monthly fees.
Early Account Termination Fee
$25 fee for closing within 90 days
Our Verdict
Sorry that we missed posting about the $150 bonus, hopefully that returns at some point.
Useful posts regarding bank bonuses:
- A Beginners Guide To Bank Account Bonuses
- Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
- PSA: Don’t Call The Bank
- Introduction To ChexSystems
- Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
- What Banks & Credit Unions Do/Don’t Pull ChexSystems?
- How To Use Our Direct Deposit Page For Bank Bonuses Page
- Common Bank Bonus Misconceptions + Why You Should Give Them A Go
- How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
- Affiliate Links & Bank Bonuses – We Won’t Be Using Them
- Complete List Of Ways To Close Bank Accounts At Each Bank
- Banks That Allow/Don’t Allow Out Of State Checking Applications
- Bank Bonus Posting Times
